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Category: Islamabad
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Pakistanis Find Ways to Trade Bitcoin Rendering Ban Ineffective
The crypto ban in Pakistan is proving to be not as effective as expected. If anything, the State Bank has barred commercial banks and financial firms from dealing in cryptocurrency which, of course, makes life harder for local exchanges. Individual traders, however, are finding alternative ways to acquire or sell cryptocurrencies, defying the warnings and […]
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Pakistan’s Urdubit Exchange Shuts Down After Crypto Ban
Urdubit, a leading Pakistani bitcoin exchange, has closed down permanently. The news came after the central bank of Pakistan announced a ban on dealings with cryptocurrencies. The trading platform urged customers to withdraw their funds “as fast as possible”. Its team confirmed on social media its operations had been suspended due to the prohibition of […]
The post Pakistan’s Urdubit Exchange Shuts Down After Crypto Ban appeared first on Bitcoin News.
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Pakistan’s Central Bank Prohibits Crypto Dealings with a Circular
The State Bank of Pakistan (SBP) has issued a circular on the “prohibition of dealing in virtual currencies”. The measure comes right after a similar move by the central bank of neighboring India. Commercial banks and payment providers have been told to stay away from crypto operations. They should not facilitate transactions of virtual currencies […]
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